L: 'Al Pacino is an OMILF!'
N:What the fuck is an OMILF?
L: An old man I'd like to fuck!
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Old Maid I'd Like To Fuck
A woman who never married or had kids, yet in middle age she is still very hot - and really gets around. Loves to babysit her plainer-looking sister's kids so she can shower them with gifts and treats just like a grandmother, much to the resentment of her sister - especially when that sister's husband can't take his eyes off her (seeing what 'could've been') when she visits.
Much more rare that an actual MILF, but will be more common soon as more people will choose not to marry and/or have kids.
Husband (talking to his buddies at work): "Wow, you should've seen my wife's sis show up to see to the kids while me and my wife went to dinner. She was such a OMILF! The kids were pretty happy too, though my wife wasn't..."